Overview
- The sale will reduce GIP’s holding in Naturgy to about 11.4%, with JP Morgan appointed as sole global coordinator.
- The accelerated bookbuilt offering covers roughly 69 million shares and will carry a 90‑day lock‑up subject to customary exceptions.
- Final terms, including the sale price, will be disclosed at completion, and such block trades typically price at a discount to the market.
- At current market levels the 7.1% stake is valued at around €1.8 billion, based on Wednesday’s closing price.
- Naturgy expects the transaction to raise free float from about 18.7% to roughly 25–26%, advancing its 2025–2027 plan after a summer self‑tender and a November return to MSCI indices.